The structured finance market has received a much welcomed injection of supply, with Irish performing and non-performing RMBS, as well as two securitisations of Bradford and Bingley’s buy-to-let mortgages, which will test market technicals.

The creation of a pan-eurozone bad bank to hoover up lenders’ non-performing assets, as mooted earlier this year by the European Banking Authority, has been criticised by market participants and analysts as the wrong approach to restore health to the area’s beleaguered banks.

Investor meetings for an Irish re-performing and performing RMBS conclude on Thursday, with Lone Star’s European Residential Loan Securitisation (ERLS 2017-PL1) set to provide a rare test of appetite for this type of paper.